Thang Long Vinh Phuc IP Creating Breakthroughs in Local Industrial Development

10:31:28 AM | 19/11/2020

After conducting many surveys on the Vinh Phuc investment environment, Sumitomo Corporation of Japan decided to invest over US$135 million in infrastructure construction in the 123-ha Thang Long Vinh Phuc Industrial Park in Binh Xuyen District, Vinh Phuc Province. The industrial park has to date become a model of infrastructure quality, environment and behavioral culture and created breakthroughs in local industrial development. Our reporter has an inclusive interview with Mr. Satoru Wachi, Deputy General Director of Thang Long Vinh Phuc Industrial Park Co., Ltd, on this issue. Ngo San reports.

Could you tell us about impressive investment attraction achievements in Thang Long Vinh Phuc Industrial Park?

Thang Long Vinh Phuc Industrial Park was established at the end of 2015. The construction was kicked off on September 21, 2017 and the first phase was completed on November 8, 2018. Soon after that, 11 investors from Japan came to invest US$200 million in it. This was very meaningful because Sumitomo had more than 10 customers in a short time for the first time. By the end of September 2020, Thang Long Vinh Phuc Industrial Park attracted 15 projects, including three DDI projects (VND506.16 billion) and 12 FDI projects (US$372.37 million). Eight projects have gone into operation. The occupancy rate is 74.6%.

We realize that there are many Japanese enterprises that want to invest in Vietnam but they are still concerned about the legal system, administrative procedures, and labor recruitment. We speak the same Japanese language with them and have stayed in Vietnam for a long time. So, we can provide best support for Japanese investors. Therefore, we focus on these potential partners. Our industrial parks always have many Japanese investors, but we affirm that Thang Long Industrial Parks in general and Thang Long Vinh Phuc Industrial Park in particular are always ready to welcome investors from all countries and territories.

Could you please share about the province's investment environment? What are your recommendations for a better investment environment and business support?

The government of Vinh Phuc has enthusiastically helped us since it launched our project. Sumitomo Corporation started Thang Long 1 Industrial Park in Hanoi in 1997, Thang Long 2 in Hung Yen province in 2006 and received great help from the local governments. All procedures are very convenient. Support commitments are being enforced quickly. At present, Ton Duc Thang Street and Nguyen Tat Thanh Street, invested by the provincial budget, have been completed to connect Thang Long Vinh Phuc Industrial Park with a convenient traffic system. Power grid and transformer stations were also built for the park. The Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, leaders of provincial departments and Binh Xuyen district always actively encourage and facilitate all investors. Local people understand and support us a lot as we carry out our project. We believe that customers at Thang Long Industrial Park Vinh Phuc will also receive the same care and help.

Recently, Vinh Phuc has given priority to investors with environment-friendly industries, technologies and products. We also know that the province has rejected some projects bearing pollution risks. At the moment, chemical production, textile dyeing and paper production will not be welcome here.

Therefore, Thang Long Vinh Phuc Industrial Park always targets investors using advanced technology and operating in information technology, automobile and alike.

So, what are the company’s goals and approach in the coming time?

In the next 3-5 years, we will focus on leasing the remaining area. At the same time, we will provide maximum support for our customers to enter stable operation by 2030. At that time, Thang Long Vinh Phuc Industrial Park will create 40,000-50,000 jobs, pay taxes, transfer technology and boost local economic development.

Source: Vietnam Business Forum

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